On Thursday, in the course of current trade, Shares of Peabody Energy Corporation (NYSE:BTU), dropped -3.12%, and is now trading at $3.11.
Peabody Energy Corporation, has declared plans to cut 250 corporate and regional employees and close two offices, saving the coal miner as much as $45 million per year as the industry grapples with lower prices and competition from natural gas, according to AP.
St. Louis-based Peabody, the world’s biggest private-sector coal producer, said Monday the layoffs largely to be carried out by the end of June amount to about one-quarter of its corporate and regional support jobs. Fifty of the positions will be eliminated at Peabody’s headquarters, where the company has 425 employees. AP Reports.
Offices on the chopping black are in Evansville, Indiana, and Gillette, Wyoming. AP added.
Peabody Energy Corporation offers mining of coal. The company operates through Western U.S. Mining, Midwestern U.S. Mining, Australian Mining, Trading and Brokerage, and Corporate and Other segments.
During Morning trade, Shares of Kinross Gold Corporation (NYSE:KGC), dipped -3.10%, and is now trading at $2.50, as Gold prices fell on Thursday, snapping three days of gains, as European stocks rallied and the dollar strengthened ahead of key US economic data.
Bullion prices remain under pressure in the longer term from expectations for a Federal Reserve rate rise this year, the first in nearly a decade. Rising US rates lift the opportunity cost of holding non-yielding gold, and benefit the dollar.
Kinross Gold Corporation, together with its auxiliaries, engages in the acquisition, exploration, and development of gold bearing properties. It is involved in mining and processing gold and silver ores. The company’s gold production and exploration activities are carried out principally in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania.
Finally, Royal Bank of Canada (NYSE:RY), lost -0.55% Thursday.
Royal Bank of Canada, declared a coupon payment for the RBC Yorkville MLP Distribution Growth Leaders Exchange-Traded Note (ETN). The note is traded on the NYSE Arca Exchange with ticker YGRO and linked to the Yorkville MLP Distribution Growth Leaders LiquidSM PR Index.
The RBC Yorkville MLP Distribution Growth Leaders ETN pays a variable quarterly coupon linked to the cash distributions, if any, on the respective underlying index constituents, less investor fees and withholding taxes, if any. Variations in the amount of quarterly distributions may lead to large variations in the current yield as calculated above. As such, the current yield is not necessarily indicative of future coupon payments, if any, on the ETN.
Royal Bank of Canada, together with its auxiliaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Administration, Insurance, Investor & Treasury Services, and Capital Markets.
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